NEW YORK, March 3, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of HMS Holdings Corporation ("HMS" or the "Company") (NASDAQ: HMSY). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether HMS and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 2, 2017, post-market, HMS announced that it would not file its annual report for fiscal year 2016 on time, and that the Company's auditor had identified what it believed was a material weakness in the Company's internal controls over financial reporting related to CMS reserves. HMS also stated that the Company is "continuing to evaluate whether this issue affects its consolidated financial results, primarily focusing on prior periods in which revenue relating to the CMS business was recorded."
On this news, HMS's share price has fallen more than 9% pre-market on March 3, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP